China Medical Tech prices $240M offering
Beijing-based China Medical Technologies has announced the pricing of its public offering of $240.0 million aggregate principal amount of convertible senior notes due 2013 and up to 4.7 million American Depositary Shares, with the ADS being purchased by affiliates of the underwriters of the notes offering pursuant to their issuance and repurchase agreements with the company.
The offering was increased from its initial-announced size of $150.0 million aggregate principal amount of notes. The company also has granted the underwriters of the notes an option to purchase up to an additional $36.0 million aggregate principal amount of notes to cover over-allotments.
The notes will pay interest semi-annually at the annual rate of 4.00%, and mature on August 15, 2013.
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